Listed realtors have cut their debt by over 40% in last 3 years

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Top listed developers in India have been successful in reducing their consolidated net debt levels by over 40 percent over the last three years through cost efficiencies by reducing overheads, generating operating cash surplus, asset sales, and capital raising.

Data show that aggregate net debt levels of the top ten listed developers fell 42.7 per cent to ₹24,938 crore between end of FY20 and the third quarter of FY23. This excludes listed real estate investment trusts and the debt of DLF Cyber City Developers, the commercial arm of DLF Ltd. If DLF Cyber City’s debt is included, then the aggregate debt of the companies at the end of December 2022 comes to ₹43,332 crore — a fall of about 20 per cent during the period under review.

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